the firm secured commitments from more than 60 limited partners, including
About 50% of the fund came from European investors, 36% from and North American LPs and the 14% balance dame from the Asia Pacific and Middle East regions.
Managing Partner Thierry Baudon says that fund II—which raised $785 million in 2005—is 80% invested.
Blackstone to raise fund, or funds
The new fund was expected. But Blackstone may abandon its traditional strategy of raising a giant global fund, and instead raise a smaller core fund supplemented by a series of specialized funds. For example, LPs could receive documents for Blackstone Capital Partners VI, Blackstone Asia and Blackstone Europe, among others.
LBO Wire says that information is inaccurate. But a source tells PE Week that no final decision has yet been made. Also, don’t expect the recent credit crunch to lower Blackstone’s capital ambitions. The total fund-raising will likely rival the $21.7 billion, if not surpass it.